2022 has been an interesting year to say the very least.  In the early part of the year, rates were low and optimism high as the trend of prices and activity continued its frenzied pace from 2021.  Midway through the year, the housing market seemed to have a self-realization that a 20% + price annual appreciation may not be...Read More

This week was one full of financial related news from the Federal Government. Some positive, some perhaps not. The Taketh The worst kept secret is now no longer such. Effective Jan 1, 2018 the Office of the Superintendent of Financial Institutions (OSFI), the federal crown corporation that regulates all chartered banks, will require lenders to...Read More

Another Day, Another Rate Hike The Bank of Canada has raised interest rates for the second time in less than two months. The central bank’s benchmark rate was raised twice by 0.25% since July and now stands at 1.00%. For consumers, this means the Prime Rate now stands at 3.20%. It was as low as...Read More

Spring is definitely here in full force, minus the sun.  Multiple offers on condos and houses continue to keep us busy and lenders on their toes. 4Front has expanded again adding a new full time in house underwriter to assist with our files.  We have a total of 16 brokers working with our clients to...Read More

This post is brought to you by our friends at CLMS, highlighting the complicated nature of the mortgage market and the greater needs of homebuyers and homeowners alike to lean on the expert advice of a professional mortgage experts. The last quarter of 2016 brought considerable change to Canada’s residential mortgage business. In October, the...Read More

CMHC raised their insurance premium rates on January 17th, 2017. These new CMHC premiums are seen as a direct consequence of the regulatory changes that OSFI (Office of the Superintendent of Financial Institutions) implemented in October 2016. Those changes already had immediate impact to non-bank lenders in the industry:  from tougher lender requirements, higher rates...Read More

Thanks to our friends at B2B Bank for their economic outlook report.  With the new mortgage regulations in place, now is a good time to discuss the state of the Canadian housing market. Previous tightening in mortgage rules, including the reduction in the maximum amortization period from 30 to 25 years in 2012, have not...Read More

The Biggest Change: First Time Home-Buyers will Qualify for Less Buyers with less than 20% down payment will qualify for 20% less financing.  Previously a client could be qualified on the actual fixed mortgage rate they chose as long as that term was for 5 years or more.  If the term was less than 5...Read More

Recently we have seen talk from all levels of government about the housing market. There is a consensus that the market may be a looming liability for the Canadian economy, and without a doubt it is a topic of conversation and concern for the average person. There is recent talk of increasing regulations and other...Read More

In a bid to make home ownership within reach of more British Columbians, the B.C. government is giving a tax break to buyers of new homes worth up to $750,000. Here are 10 things you should know about yesterday’s announcement. 1.  Buyers of newly-built homes, condos and townhouses worth up to $750,000 will be exempt...Read More